Norway Sells Final Stake in Norwegian Air, Profits Over 500 Million Crowns

Norway's government has completed the sale of its remaining shares in Norwegian Air, totaling 892 million crowns (approximately $87.80 million). This move marks the conclusion of the state's involvement in the airline after its pandemic-driven restructuring, wherein the Norwegian ministry of trade, industry and fisheries sold off a 6.26% stake comprising 65.58 million shares, each at 13.60 crowns.

The share sale occurred at a 3.3% markdown compared to Tuesday's closing price on the Oslo Bourse. Trade and Industry Minister Cecilie Myrseth emphasized the government's consistent intention not to be a prolonged stakeholder in the airline.

In May 2021, the government had extended a convertible loan of 1.21 billion crowns to Norwegian Air as part of its reconstruction efforts. Despite the recent divestment, Norway retains bonds in the airline due for repayment in the near future and in 2026. Profit from the state's investment transactions has exceeded 500 million crowns, the government reported.

(With inputs from agencies.)